Transcript Diapositiva 1 - XBRL International
XBRL IN SPAIN
Federico Flórez
CIO - Bank of Spain Managing Director XBRL España
AGENDA
Global markets XBRL Spain Goal Main initiatives Latinoamerica approach Conclusions
Global Markets
XBRL Spain Goal Main initiatives Latinoamérica approach Conclusions
Flexible and integrated System
Reporting and standard Systems
Efficiency
IFRS and Basel II
Anti-Money Laundering Systems
Business continuity
Global Markets
XBRL Spain
Standards systems
Goal Main initiatives Latinoamérica approach
Normalization and standardization provide processes homogenization and communications systems of the credit organizations.
Local reliable systems, with high level of security and continuity, guarantee an efficient operating and minimize the risk.
Establishment of standards in local systems provides the incorporation of foreign investors.
Barrier created for the technological dependence by the owners of the systems are removed.
Global Markets
XBRL Spain
Goal Main initiatives Latinoamérica approach
Objectives : Transparency, efficiency
All the stakeholders of the reporting process
Implement projects XBRL is a Country Project
OBJECTIVES
Consolidate XBRL Spain
Increase number of members
Taxonomies Development
Spread XBRL standard
Promote activities with Latinoamerica
Global Markets
XBRL Spain ORGANIZATIONAL CHART
Goal Main initiatives Latinoamérica approach General Meeting Consultancy & Mediation Audit Committee
Facilitator
President
Vicepresident General Secretary
Board
Strategic Commission Management & Secretary Conclusions Basel II Accounting Taxonomies Technology Development & Training Marketing & Communication
Global Markets
OBJECTIVES XBRL Spain
Goal Main initiatives Latinoamérica approach Conclusions
FOUNDER MEMBERS April 2004 10 CURRENT MEMBERS December 2006 48
Global Markets XBRL Spain Main initiatives Latinoamérica approach Conclusions
Goal XBRL is a country project. That means :
Institutional support Public members Senate motion
Private support
University
Audit participation
IT support
Global Markets XBRL Spain
Goal
Institutional Support: Public members
Main initiatives Latinoamérica approach Conclusions
Dirección General de Coordinación Financiera con las Entidades Locales
Global Markets XBRL Spain Main initiatives Latinoamérica approach Conclusions
Goal
Institutional Support: Senate motion
Aprobada por unanimidad la moción insta al Gobierno a impulsar el estándar abierto XBRL MOCIÓN Es por lo que el Senado insta al Gobierno a: 1 º- Impulsar el estándar abierto XBRL, en el marco de la presente legislatura, en colaboración con las Comunidades Autónomas y Corporaciones Locales que lo deseen, así como con el sector privado, en la aplicación de dicho formato, de forma progresiva, en los distintos ámbitos de su responsabilidad.
2 º- Encomendar por el Gobierno a una Entidad o Consorcio de Entidades para que, en el plazo de seis meses, pueda efectuar el desarrollo, control y homologación de las taxonomías necesarias en función de la normativa contable nacional y europea que permitan la actualización tecnológica del lenguaje financiero de las empresas españolas y de las distintas administraciones públicas
Global Markets XBRL Spain
Private support Goal
Main initiatives Latinoamérica approach Conclusions
Global Markets
University
XBRL Spain
Goal
Main initiatives Latinoamérica approach Conclusions
Global Markets XBRL Spain
Audit participation Goal
Main initiatives Latinoamérica approach Conclusions
Global Markets
IT support
XBRL Spain
Goal
Main initiatives Latinoamérica approach Conclusions
Global Markets XBRL Spain Goal
Main initiatives
Latinoamérica approach Conclusions
1. Taxonomies building and implementation 2. Education 3. Center of excellence 4. Medium and small companies 5. Communication
Global Markets XBRL Spain Goal
Main initiatives
Latinoamérica approach
1. Taxonomies building and implementation
Spain in European and Global taxonomies Done / Developing
DGI COREP Common Reporting FINREP Financial Reporting CBSO-RF Balance Sheet FLIPA Credit Risk Assessment EBR Global Common Document Committee of European Banking Supervisors Committee of European Banking Supervisors European Committee of Central Balance Sheet Data Offices (III WG) International Credit Insurance & Surety Association Enhanced Business Report.
Mercantile Registry Basel II IFRS IFRS CRAS University Huelva
Conclusions
Global Markets XBRL Spain Goal
Main initiatives
Latinoamérica approach
1. Taxonomies building and implementation
2005-2007
IPP PGC90 SST
Spanish Taxonomies
Public Periodic Information GAAP 1990 Property Appraisal Companies ES-BE-FS ES-BE-CBx SEPBLAC BP IGAE INE RSC LENLOC Financial Information Exch.
Central Balance Sheet Anti Money Laundering Balance of Payments Public Sector Accounting Structural Statistics Corp. Social Responsibility Rendering of Accounts
Done / Developing
Stock Exchange Sup.
ICAC (Government) Bank of Spain Bank of Spain Bank of Spain Bank of Spain Bank of Spain Gov. Accounting Nat’l Statistics Institute AECA (Accountants) Local Entities Superv.
Conclusions
Global Markets XBRL Spain Goal
Main initiatives
Latinoamérica approach
1. Taxonomies building and implementation
Corporate Social Responsibility
Vision: Reporting on economic, environmental, and social performance by all organizations becomes as routine and comparable as financial reporting.
The standard will provide a company with a system to ensure it is properly monitoring its social responsibility.
ISO-26000: Designed as a guide to help businesses understand where their responsibilities to various stakeholders begin and end.
Initiative of the Spanish Association of Accounting and Business Administration (AECA). XBRL taxonomy on development Conclusions
Global Markets XBRL Spain Goal
Main initiatives
Latinoamérica approach
2. Education
- E-learning for Stock Exchange Supervisors in Latin America - 1st Edition: April 2007 - Centre of e-learning for the Economic and Technological Development: Foundation baked by the Spanish Ministry of Treasury - IberAmerican Institute of Stock Markets - Organized by the Spanish Stock Exchange Supervision - 6 XBRL modules of 1 week: 4 generic, 2 specific - Successive editions are planned Conclusions
Global Markets XBRL Spain
3. Center of Excellence
Goal
Main initiatives
Latinoamérica approach Conclusions
INTECO: Ministry of Industry for IT innovation
Center of experts for developing XBRL projects
Public project for 8.000 city councils for the balance sheets and accounts
Global Markets XBRL Spain
4. Medium and small companies
Goal
Main initiatives
Latinoamérica approach Conclusions
SW developers for small and medium companies
API ´s for XBRL
Project identification
Global Markets XBRL Spain Goal
Main initiatives
Latinoamérica approach
5. Communication Repository for information on XBRL projects around the world
•
latest ‘wiki’ technology
•
enabling easy and flexible updating of information
•
by project managers themselves
Conclusions
Completed projects, projects in development and planned activities, all types of projects, including public sector, commercial and academic.
Information in languages other than English Source for an official list of projects on the XBRL site easily accessible, in a flexible and simply followed format, to the growing number of people interested in XBRL
www.wikixbrl.org
XBRL Spain and the University of Bucaramanga in Colombia (Ph. D. Eduardo Carrillo) will administer the wiki site
Global Markets XBRL Spain Goal Main initiatives
XBRL Latinoamérica approach
Conclusions
Global Markets XBRL Spain Goal Main initiatives
Latinoamérica approach
Conclusions
Education XBRL XBRL on line ASBA course CEMLA course Initiatives XBRL: Argentina, Brazil, Colombia, Bolivia, Chile, Mexico
XBRL projects reference
Global Markets XBRL Spain Goal Main initiatives Latinoamérica approach
Conclusions CONCLUSIONS
Global markets means standards
XBRL is the standard for reporting business information
XBRL is a country project
Education and projects means the way to implement